As lawmakers negotiate over more coronavirus relief, U.S. households say they’re more likely to spend extra income than usual.

Respondents to a Federal Reserve Bank of New York survey in December said they would spend or donate 19.3 per cent of an unexpected increase in income on average, up from 17.1 per cent in December 2019, before the pandemic began.

Some 44.5 per cent of the extra money would go toward savings or investments, while 36.3 per cent would be used to pay down debts, according to the results of the survey published Monday by the Federal Reserve Bank of New York.

President Joe Biden is pressing Congress to pass an additional US$1.9 trillion package of coronavirus relief measures, including direct payments of US$1,400 to many Americans and enhanced benefits for the unemployed. That would follow the US$900 billion of aid lawmakers authorized in December, which included direct payments of US$600.

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